Assume Trusty Transport Lid's balance sheet includes the following assets under Property Plant, and Equipment Land, Buildings, and Motor Carrier Eq Further, assume that Trusty completed the following transactions (Click the icon to view the transactions.) Requirements 1. Record the transactions in Trusty Transport L.id's journal 2. How does management choose which depreciation method to use? Requirement 1. Record the transactions in Trusty Transport Lid's journal January 2, 2020 Sold motor-carrier equipment with accumulated depreciation of $70.600 (cost of $135,000) for $66,000 cash Purchased similar new equr Journalize the sale of the motor carrier equipment. (Record debits first, then credits. Explanations are not required.) Journal Entry Date Accounts Debit Credit Jan 2 Record the purchase of the new motor carrier equipment Journal Entry Date Accounts Debit Credit JATI 2 Buildings, and Motor Carrier Equipment Trusty has a separate accumulated depreciation account for each of these assets except land cash Purchased similar new equipment with a cash price $187,000 .) A Requirements 1 Record the transactions in Trusty Transport Ltd's journal 2. How does management choose which depreciation method to use? Requirement 1. Record the transactions in Trusty Transport Ltd's journal January 2, 2020 Sold motor-carrier equipment with accumulated depreciation of $70 600 (cost of $135,000) for $66,000 cash. Purchased similar new eq Journalize the sale of the motor carrier equipment. (Record debits first, then credits. Explanations are not required.) Journal Entry Date Accounts Debit Credit Jan 2. Record the purchase of the new motor carrier equipment Journal Entry Date Accounts Debit Credit Jan 2 of $135,000) for $66,000 cash. Purchased similar new equipment with a cash price $187,000 mations are not required.) Credit Credit Requirements 1. Record the transactions in Trusty Transport Ltd 's journal 2. How does management choose which depreciation method to use? Journalize the sale of the motor carrier equipment. (Record debits first, then credits. Explanations are not required.) Journal Entry Date Accounts Debit Credit Jan Record the purchase of the new motor carrier equipment. Journal Entry Accounts Date Debit Credit Credit Jan 2 Choose from any list or enter any number in the input fields and then continue to the next question. uly 3 Sold a building that had cost $670,000 and had accumulated depreciation of $160,000 through December 31 of the preceding your Depreciation is 5220,000 Trusty received $104,000 cash and a $400,375 note receivable Record the depreciation expense for July 3 (Use the full months for calculations. Round to the nearest whole dollar) Journal Entry Date Accounts Debit Credit July 3 Record the sale of the building on July 3 Journal Entry Debit Credit Date Accounts July 3 Choose from any list or enter any number in the input fields and then continue to the next question 1 31 of the preceding year. Depreciation is computed on a straight-line basis. The building had a 40-year useful life and a residual value of ole dollar.) ? July 3. Sold a building that had cost $670,000 and had accumulated depreciation of $160,000 through December 31 o $220,000. Trusty received $104,000 cash and a $400,375 note receivable Record the depreciation expense for July 3. (Use the full months for calculations. Round to the nearest whole doll Journal Entry Date Accounts Debit Credit July Record the sale of the building on July 3 Journal Entry Debit Credit Date Accounts July untinuin to the next question Record the depreciation expense for July 3. (Use the full months for calculations. Round to the nearest whole dollar.) Journal Entry Date Accounts Debit Credit July Record the sale of the building on July 3 Journal Entry Debit Credit Date Accounts July 3 Choose from any list or enter any number in the input fields and then continue to the next question management choose which depreciation method to use? Record the sale of the building on July 3. Journal Entry Date Accounts Debit Credit July 3 3 October 29: Purchased land and a building for a single price of $429,000. An independent appraisal value dollar.) Journal Entry Date Accounts Debit Credit Oct. 29 Choose from any list or enter any number in the input fields and then continue to the next question. 2. How does management choose which depreciation method to use? October 29. Purchased land and a building for a single price of $429,000. An independent appraisal valued the land at $153,000 and the buildin dollar.) Journal Entry Date Accounts Debit Credit Oct 29 December 31. Recorded depreciation as follows: New motor carrier equipment has an expected useful life of six years and an estimated residual value of 5% of cost Depreciation is computed on Depreciation on buildings is computed by the straight-line method The new building carries a 40-year useful life and a residual value equal to 10% Record the depreciation expense on the equipment for December 31, (Hold all decimals for interim calculations. Round your final answer to Journal Entry Choose from any list or enter any number in the input fields and then continue to the next question the land at $153,000 and the building at $306,000 (Hold all decimals for interim calculations. Round your final answer to the nearest whole -15% of cost Depreciation is computed on the double diminishing-balance method useful life and a residual value equal to 10% of its cost calculations. Round your final answer to the nearest whole dollar) December 31 Recorded depreciation as follows New motor-carrier equipment has an expected useful life of six years and an estimated residual value of 5% of cost Depreciation is computed o Depreciation on buildings is computed by the straight line method. The new building carries a 40-year useful life and a residual value equal to 10 Record the depreciation expense on the equipment for December 31 (Hold all decimals for interim calculations. Round your final answer to Journal Entry Dato Accounts Debit Credit Doc 31 Record the depreciation expense on the buildings for December 31 (Hold all decimals for interim calculations. Round your final answer to the Journal Entry Date Accounts Debit Credit ed residual value of 5% of cost. Depreciation is computed on the double-diminishing-balance method. carries a 40-year useful life and a residual value equal to 10% of its cost. Imals for interim calculations. Round your final answer to the nearest whole dollar.) it Credit cimals for interim calculations. Round your final answer to the nearest whole dollar.) tudi to 12 lits Record the depreciation expense on the equipment for December 31 (Hold all decimals for interim calculations. Round your final answer to the new Journal Entry Date Accounts Debit Credit Dec 31 Record the depreciation expense on the buildings for December 31 (Hold all decimals for interim calculations. Round your final answer to the neares Journal Entry Date Accounts Debit Credit Dec 31 Accounts Debit Credit 31 Requ2m chowdopo atrodo? www.cente motorbeste gum wed. The generasi modessuto Moth ested World Choose from west or anything els and then come to the lyre here to search O 1 a Transactions - tio DOO he 2020 Jan 2 Sold motor-carrier equipment with accumulated depreciation of $70,600 (cost of $135,000) for $66,000 cash Purchased similar new equipment with a cash price $187,000 July 3 Sold a building that had cost $670,000 and had accumulated depreciation of $160,000 through December 31 of the preceding year. Depreciation is computed on a straight-line basis. The building had a 40-year useful life and a residual value of $220,000. Trusty received $104,000 cash and a $400,375 note receivable Oct 29 Purchased land and a building for a single price of $429 000. An independent appraisal valued the land at $153,000 and the building at $306 000 Dec. 31 Recorded depreciation as follows: New motor-carrier equipment has an expected useful life of six years and an estimated residual value of 5% of cost. Depreciation is computed on the double-diminishing-balance method Depreciation on buildings is computed by the straight-line method. The new building carries a 40-year useful life and a residual value equal to 10% of its cost Print Done Assume Trusty Transport Lid's balance sheet includes the following assets under Property Plant, and Equipment Land, Buildings, and Motor Carrier Eq Further, assume that Trusty completed the following transactions (Click the icon to view the transactions.) Requirements 1. Record the transactions in Trusty Transport L.id's journal 2. How does management choose which depreciation method to use? Requirement 1. Record the transactions in Trusty Transport Lid's journal January 2, 2020 Sold motor-carrier equipment with accumulated depreciation of $70.600 (cost of $135,000) for $66,000 cash Purchased similar new equr Journalize the sale of the motor carrier equipment. (Record debits first, then credits. Explanations are not required.) Journal Entry Date Accounts Debit Credit Jan 2 Record the purchase of the new motor carrier equipment Journal Entry Date Accounts Debit Credit JATI 2 Buildings, and Motor Carrier Equipment Trusty has a separate accumulated depreciation account for each of these assets except land cash Purchased similar new equipment with a cash price $187,000 .) A Requirements 1 Record the transactions in Trusty Transport Ltd's journal 2. How does management choose which depreciation method to use? Requirement 1. Record the transactions in Trusty Transport Ltd's journal January 2, 2020 Sold motor-carrier equipment with accumulated depreciation of $70 600 (cost of $135,000) for $66,000 cash. Purchased similar new eq Journalize the sale of the motor carrier equipment. (Record debits first, then credits. Explanations are not required.) Journal Entry Date Accounts Debit Credit Jan 2. Record the purchase of the new motor carrier equipment Journal Entry Date Accounts Debit Credit Jan 2 of $135,000) for $66,000 cash. Purchased similar new equipment with a cash price $187,000 mations are not required.) Credit Credit Requirements 1. Record the transactions in Trusty Transport Ltd 's journal 2. How does management choose which depreciation method to use? Journalize the sale of the motor carrier equipment. (Record debits first, then credits. Explanations are not required.) Journal Entry Date Accounts Debit Credit Jan Record the purchase of the new motor carrier equipment. Journal Entry Accounts Date Debit Credit Credit Jan 2 Choose from any list or enter any number in the input fields and then continue to the next question. uly 3 Sold a building that had cost $670,000 and had accumulated depreciation of $160,000 through December 31 of the preceding your Depreciation is 5220,000 Trusty received $104,000 cash and a $400,375 note receivable Record the depreciation expense for July 3 (Use the full months for calculations. Round to the nearest whole dollar) Journal Entry Date Accounts Debit Credit July 3 Record the sale of the building on July 3 Journal Entry Debit Credit Date Accounts July 3 Choose from any list or enter any number in the input fields and then continue to the next question 1 31 of the preceding year. Depreciation is computed on a straight-line basis. The building had a 40-year useful life and a residual value of ole dollar.) ? July 3. Sold a building that had cost $670,000 and had accumulated depreciation of $160,000 through December 31 o $220,000. Trusty received $104,000 cash and a $400,375 note receivable Record the depreciation expense for July 3. (Use the full months for calculations. Round to the nearest whole doll Journal Entry Date Accounts Debit Credit July Record the sale of the building on July 3 Journal Entry Debit Credit Date Accounts July untinuin to the next question Record the depreciation expense for July 3. (Use the full months for calculations. Round to the nearest whole dollar.) Journal Entry Date Accounts Debit Credit July Record the sale of the building on July 3 Journal Entry Debit Credit Date Accounts July 3 Choose from any list or enter any number in the input fields and then continue to the next question management choose which depreciation method to use? Record the sale of the building on July 3. Journal Entry Date Accounts Debit Credit July 3 3 October 29: Purchased land and a building for a single price of $429,000. An independent appraisal value dollar.) Journal Entry Date Accounts Debit Credit Oct. 29 Choose from any list or enter any number in the input fields and then continue to the next question. 2. How does management choose which depreciation method to use? October 29. Purchased land and a building for a single price of $429,000. An independent appraisal valued the land at $153,000 and the buildin dollar.) Journal Entry Date Accounts Debit Credit Oct 29 December 31. Recorded depreciation as follows: New motor carrier equipment has an expected useful life of six years and an estimated residual value of 5% of cost Depreciation is computed on Depreciation on buildings is computed by the straight-line method The new building carries a 40-year useful life and a residual value equal to 10% Record the depreciation expense on the equipment for December 31, (Hold all decimals for interim calculations. Round your final answer to Journal Entry Choose from any list or enter any number in the input fields and then continue to the next question the land at $153,000 and the building at $306,000 (Hold all decimals for interim calculations. Round your final answer to the nearest whole -15% of cost Depreciation is computed on the double diminishing-balance method useful life and a residual value equal to 10% of its cost calculations. Round your final answer to the nearest whole dollar) December 31 Recorded depreciation as follows New motor-carrier equipment has an expected useful life of six years and an estimated residual value of 5% of cost Depreciation is computed o Depreciation on buildings is computed by the straight line method. The new building carries a 40-year useful life and a residual value equal to 10 Record the depreciation expense on the equipment for December 31 (Hold all decimals for interim calculations. Round your final answer to Journal Entry Dato Accounts Debit Credit Doc 31 Record the depreciation expense on the buildings for December 31 (Hold all decimals for interim calculations. Round your final answer to the Journal Entry Date Accounts Debit Credit ed residual value of 5% of cost. Depreciation is computed on the double-diminishing-balance method. carries a 40-year useful life and a residual value equal to 10% of its cost. Imals for interim calculations. Round your final answer to the nearest whole dollar.) it Credit cimals for interim calculations. Round your final answer to the nearest whole dollar.) tudi to 12 lits Record the depreciation expense on the equipment for December 31 (Hold all decimals for interim calculations. Round your final answer to the new Journal Entry Date Accounts Debit Credit Dec 31 Record the depreciation expense on the buildings for December 31 (Hold all decimals for interim calculations. Round your final answer to the neares Journal Entry Date Accounts Debit Credit Dec 31 Accounts Debit Credit 31 Requ2m chowdopo atrodo? www.cente motorbeste gum wed. The generasi modessuto Moth ested World Choose from west or anything els and then come to the lyre here to search O 1 a Transactions - tio DOO he 2020 Jan 2 Sold motor-carrier equipment with accumulated depreciation of $70,600 (cost of $135,000) for $66,000 cash Purchased similar new equipment with a cash price $187,000 July 3 Sold a building that had cost $670,000 and had accumulated depreciation of $160,000 through December 31 of the preceding year. Depreciation is computed on a straight-line basis. The building had a 40-year useful life and a residual value of $220,000. Trusty received $104,000 cash and a $400,375 note receivable Oct 29 Purchased land and a building for a single price of $429 000. An independent appraisal valued the land at $153,000 and the building at $306 000 Dec. 31 Recorded depreciation as follows: New motor-carrier equipment has an expected useful life of six years and an estimated residual value of 5% of cost. Depreciation is computed on the double-diminishing-balance method Depreciation on buildings is computed by the straight-line method. The new building carries a 40-year useful life and a residual value equal to 10% of its cost Print Done